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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (59211)1/18/2001 12:22:48 PM
From: Earlie  Read Replies (1) of 436258
 
BC:

I wonder what may happen when the guy who took out that "125% of current assessed valuation" mortgage gets laid off? Does he leave the keys in the mailbox or does he mail them to the bank?

And when the bank tries to flog the property into an already glutted (from similar situations) R.E. market, what does it do when the property finally sells for a fraction of that previous "assessed valuation"? Of course the banks and mortgage outfits all carry "insurance" for these sorts of contingencies. (g)

Hello Fannie and Freddy. (g)

Best, Earlie
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